- Huge Patient Base in India.
- Development of Patient Monitors With Wireless and Sensor Technology.
The Research Report on “Asia and North Africa Critical Care Equipment Market by Product (Infusion Pumps, Ventilators, & Patient Monitors) – Competitive Analysis & Forecast” published by MarketsandMarkets™
What Drives the Market Growth?
The Continuous technological advancements in critical care devices, increasing government support, growing private sector investments in the healthcare industry, and increasing patient population base are key factors fuelling the growth of the north africa critical care equipment market in the emerging nations.
High replacement rate of critical care devices, growing medical tourism in Asia, and development of multi-parameter monitors are some other prime factors offering growth opportunities for players in the critical care equipment market. However, high cost of these devices is restraining the growth of this market.
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Asia and North Africa Critical Care Equipment Market Segmentation in Detailed:
On the basis of products, the asia critical care equipment market is divided into three segments, namely, patient monitors, ventilators, and infusion pumps. The patient monitors segment is expected to grow at the highest CAGR in the next five years, owing to the increasing patient population base and the high adoption of advanced patient monitoring devices by big hospitals and clinics in the emerging nations.
The patient monitors segment holds the largest share of the asia critical care equipment market in emerging nations. The increased private sector investments and expansions, premium cost of devices, high replacement rates, and development of multiparameter monitors are the key factors contributing to the growth of this market segment. Moreover, development of patient monitors with wireless and sensor technology and rising adoption of home-use and remote patient monitoring devices are other factors contributing to the growth of the patient monitors market in emerging nations.
The ventilators market segment is further categorized on the basis of products into adult ventilators and neonatal/infant ventilators. Increasing geriatric population, rising number of ICU patients in India, growing use of home care ventilation devices, and increasing prevalence of respiratory devices are key factors driving the market for adult ventilators in the emerging nations. Whereas, increasing incidence of pre-term births in emerging nations is a key factor driving the adoption of neonatal ventilators in these regions. However, shortage of ICU beds and high adoption of refurbished products are shrinking the revenue growth of this market.
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Geographically, the global market is classified into Asia (excluding India), India, and the Middle East and North Africa. In 2016, the critical care equipment market is estimated to be dominated by Asia. Rising demand for remote patient monitoring, high adoption rate of technologically advanced critical care devices, and increasing patient population base are contributing to the large share of the Asian critical care equipment market. The Indian market is expected to grow at the highest CAGR from 2016 to 2021. Factors such as growing government support, increasing private sector investment, rising geriatric population, growing incidence and prevalence of respiratory and chronic diseases, and developing healthcare infrastructure are propelling the growth of the Indian critical care equipment market.
Global Key Leaders:
Koninklijke Philips N.V. (Netherlands), General Electric Company (U.S.), Medtronic plc (U.S.), Drägerwerk AG & Co. KGaA (Germany), Skanray Technologies Pvt. Ltd (India), Maquet Holding B.V. & Co. KG. (Germany), B. Braun Melsungen AG (Germany), and Fresenius Kabi (Germany) are some of the key players operating in the critical care devices market.
Drägerwerk AG & Co. KGaA (Germany) held the leadership position in the Indian ventilators market in 2015. The company has a wide product portfolio of ventilator systems, such as neonatal ICU ventilation, subacute care ventilation, and emergency & transport ventilations. Over the past three years, the company adopted new product launches and expansions as its key business strategies to sustain its leading position in the Indian ventilators market. For instance, in November 2015, Dräger launched Medical Air Ensure, its own conditioning unit for medical compressed air. Medical Air Ensure eliminates harmful gases, water, bacteria, and oil from the compressed air, through various drying and filtering stages, and produces medical compressed air
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